SCHEDULE 1ADDITIONAL INFORMATION TO BE CONTAINED IN APPLICATIONS FOR AUTHORISATION OR APPROVAL
1
In this Schedule—
“minimum funding valuation” means an actuarial valuation required by section 57(1)(a) or 57(2) of the 1995 Act M1 (valuation and certification of assets and liabilities);
“payment schedule” shall be construed in accordance with section 87 of the 1995 Act M2 (schedules of payments to money purchase schemes);
“schedule of contributions” shall be construed in accordance with section 227 M3 (schedule of contributions), and includes a schedule of contributions prepared by the trustees or managers for any purpose, including that of making an application under section 288 or 289;
“statement of funding principles” shall be construed in accordance with section 223 (statement of funding principles), and includes a statement of funding principles prepared by the trustees or managers for any purpose, including that of making an application under section 288 or 289.
2
The information about the scheme to be provided in an application for authorisation in accordance with regulations 4(2), 5(2) and 6(2) is—
a
the pension scheme registration number which is allocated to that scheme in the register,
b
a statement signed by the trustees or managers of the scheme that they have provided to the Regulator all the registrable information with respect to the scheme,
c
a statement signed by the trustees or managers of the scheme that the scheme complies with the requirements of section 252(2) and (3) (UK based scheme to be trust with effective rules),
d
a statement signed by the trustees or managers of the scheme that any requirements made by or under—
i
section 113 of the 1993 Act M4 (disclosure of information to members of schemes etc),
ii
section 35 of the 1995 Act M5 (investment principles), and
iii
section 36 of the 1995 Act M6 (choosing investments),
have been complied with, and
e
a statement signed by the trustees or managers of the scheme that—
i
where section 247 M7 (requirement for knowledge and understanding: individual trustees), and section 248 M8 (requirement for knowledge and understanding: corporate trustees) are in force on the day on which the application is made, any requirements made by or under those sections have been complied with, or
ii
where section 247 and section 248 are not in force on the day on which the application is made, any requirements made by or under those sections, or in any instrument made under either or both of those sections, will be complied with once those sections are in force.
3
The information about a scheme to be provided in an application for authorisation in accordance with regulations 4(2)(a), 5(2)(a) and 6(2)(a) is the most recent payment schedule for the scheme.
4
The information about the scheme to be provided in an application for authorisation in accordance with regulation 4(2)(b) is—
a
a statement signed by the trustees or managers of the scheme that the scheme complies with the requirements of section 222,
b
a statement signed by the trustees or managers of the scheme that any requirements imposed by or under—
i
section 224 (actuarial valuations and reports),
ii
section 225 (certification of technical provisions), and
iii
section 227 (schedule of contributions),
have been complied with,
c
the most recent statement of funding principles for the scheme, and
d
an actuarial valuation for the scheme the effective date of which is within the period of 12 months ending on the date of the application.
5
The information about the scheme to be provided in an application for authorisation in accordance with regulation 5(2)(b) is the most recent minimum funding valuation for the scheme.
6
1
In this paragraph—
a
except in sub-paragraph (2)(c), references to the European employer are references to the European employer specified in the notice of intention, and
b
references to the provision of information in relation to one European employer shall include the provision of that information in relation to each European employer so specified.
2
The additional information about the scheme and its existing activities to be contained in the notice of intention in accordance with regulations 9(2), 10(2) and 11(2) is—
a
where—
i
the application for approval is not made on the same day as the application for authorisation, and
ii
the trustees or managers have not satisfied the Regulator that there has not been any material change in the information described in paragraph (2)(a) to (e) above since the application for authorisation was made,
the information so described in so far as there has been any material change in that information,
b
where the trustees or managers of the scheme have been authorised by the Regulator under section 288, the date on which such authorisation was granted,
c
where the trustees or managers of the scheme are already accepting contributions from a European employer, the name and address of that employer and the host member State of that employer, and
d
a copy of the scheme rules.
3
The additional information about the scheme and its existing activities to be contained in the notice of intention in accordance with regulations 9(2)(a) and 10(2)(a) is the most recent payment schedule for the scheme.
4
The additional information about the scheme and its existing activities to be contained in the notice of intention in accordance with regulation 9(2)(b) is—
a
where—
i
the application for approval is not made on the same day as the application for authorisation, and
ii
the trustees or managers have not satisfied the Regulator that there has not been any material change in the information described in paragraph 4(a) to (d) since the application for authorisation was made,
the information so described in so far as there has been any material change in that information, and
b
the most recent schedule of contributions for the scheme.
5
The additional information about the scheme and its existing activities to be contained in the notice of intention in accordance with regulation 10(2)(b) is the most recent minimum funding valuation for the scheme.
6
The additional information about the scheme to be contained in the notice of intention in accordance with regulation 11(2) is a statement signed by the trustees or managers of the scheme showing—
a
the rates of contributions which will be payable towards the scheme by or on behalf of the employer and the active members of the scheme, and
b
the dates on or before which such contributions are to be paid.
7
The additional information about the future activities of the scheme when it is approved in relation to the European employer to be contained in the notice of intention in accordance with regulations 9(2), 10(2) and 11(2) is—
a
the names of any member States other than the United Kingdom where the scheme already has members who are qualifying persons or qualifying self-employed persons,
b
where the scheme has established, or is intending to establish, a branch in the host member State, the address, e-mail address, telephone number and fax number of—
i
that branch, and
ii
all persons authorised to represent the scheme for the business of that branch,
c
the address, e-mail address, telephone number and fax number in the host member State of the European employer,
d
a description of the type of scheme to be offered to the European employer (including whether it will be defined contribution only, defined benefit, final salary, salary related or some form of hybrid),
e
the conditions to be met before benefits are, or will become, payable,
f
the types and rates of contributions to be paid towards the scheme by or on behalf of the European employer and those active members of the scheme in the host member State who are—
i
qualifying persons in relation to that European employer, or
ii
qualifying self-employed persons,
g
a description of any guarantees and additional coverage offered by the scheme,
h
a description of the categories of persons who are employees in the host member State of that European employer who cannot become members of the scheme, and
i
whether the assets or liabilities (or both) of the scheme which correspond to the activities carried out in the host member State will be ring-fenced.
SCHEDULE 2MODIFICATIONS OF PENSIONS LEGISLATION, AND RELEVANT LEGAL REQUIREMENTS FOR THE PURPOSES OF SECTION 293
1
1
In this Schedule, a reference to a section of an Act includes a reference to any subordinate legislation made or having effect as if made under that section.
2
In this Schedule, “the 2000 Act” means the Child Support, Pensions and Social Security Act 2000 M9.
2
For the purposes of regulations 14 and 16—
a
the provisions of pensions legislation which are modified in their application to European members and European survivors of cross-border schemes, and
b
the relevant legal requirements for the purposes of section 293,
are the provisions listed in Column 1 of Table 1—
Provision of the 1995 Act | Description of provision of the 1995 Act |
---|---|
Section 50(1) to (5) and (7) M10 | Resolution of disputes |
3
For the purposes of regulations 14 and 16—
a
the provisions of pensions legislation which are modified in relation to European members and European survivors of cross-border schemes, other than European members of a cross-border scheme which is a pre-23rd September 2005 scheme who became members of that scheme before the commencement date and European survivors of such members, and
b
the relevant legal requirements for the purposes of section 293,
are the provisions listed in Column 1 of Table 2 set out below—
Provisions of the 1993 Act | Description of provisions of the 1993 Act |
---|---|
Sections 69 to 76 and 81 and 82 M11 | Preservation of benefit under occupational schemes |
Sections 83 to 86 M12 | Revaluation of accrued benefits (excluding guaranteed minimum pensions) |
Sections 93 to 98, 99(1) to (4A), (7)(a) and (8), 100 and 101 M13 | Transfer values |
Sections 101AA to 101AI M14 | Early leavers: cash transfer sums and contribution refunds |
Provisions of the 1995 Act | Description of provisions of the 1995 Act |
Sections 51 to 54 M15 | Indexation |
Sections 91 to 94 M16 | Assignment, forfeiture, bankruptcy etc. |
4
For the purposes of regulation 14, the other provisions of pensions legislation which are modified in their application to European members and European survivors of cross-border schemes are the provisions listed in Column 1 of Table 3 set out below.
Provisions of the 1993 Act | Description of provisions of the 1993 Act |
---|---|
Section 99(7)(b) M17 | Trustees' duties after exercise of option |
Provisions of the 1995 Act | Description of provisions of the 1995 Act |
Section 50(6) | Resolution of disputes |
5
For the purposes of regulation 16, the other relevant legal requirements for the purposes of section 293 are the provisions listed in Column 1 of Table 4 set out below.
Provisions of the 1993 Act | Description of provisions of the 1993 Act |
---|---|
Sections 9 and 10 M18 | General requirements for certification |
Sections 12A to 12D M19 | Requirements for certification of occupational pension schemes |
Sections 13 to 21 and 23 M20 | Requirements for certification of occupational pension schemes providing guaranteed minimum pensions |
Sections 27 to 33 M21 | Requirements for certification of occupational and personal money purchase schemes |
Sections 37 and 39 M22 | Alteration of scheme rules after certification |
Section 45B M23 | Money purchase and personal pension schemes: verification of ages |
Sections 50 and 51 M24 | Approval of arrangements for scheme ceasing to be certified |
Sections 52 to 54 M25 | Supervision of formerly certified schemes |
Sections 55 to 58 and 61 to 63 M26 | State scheme premiums |
Sections 68A to 68D M27 | Safeguarded rights |
Sections 87 to 92 M28 | Protection of increases in guaranteed minimum pensions (“anti-franking”) |
Section 93A(1) to (3) M29 | Salary related schemes: right to statement of entitlement |
Sections 109 and 110 M30 | Guaranteed minimum pensions |
Sections 129 to 132 M31 | Relationship between requirements and scheme rules |
Section 159 M32 | Inalienability of guaranteed minimum pension and protected rights payments |
Provisions of the 1999 Act | Description of provisions of the 1999 Act |
Sections 11 to 13 | Pensions and bankruptcy |
Section 40 M33 | Other pension schemes |